Rise in U.S. jobless benefit claims defies forecasts

Oct 23rd, 2009 - The Detroit News

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The number of new claims for jobless benefits jumped more than expected last week, according to the U.S. Department of Labor.

Claims had fallen in five out of the previous six weeks, and most economists expect that trend to continue but at a slow pace, with employers still reluctant to hire.

Lack of job growth is a major problem for the economy. The Labor Department said the number of newly laid-off workers filing claims for jobless benefits rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters.

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